How Much Car Insurance Do You Really Need

How Much Car Insurance Do You Really Need – Do you know how much you have to pay to insure your car? Most Singaporeans buy car insurance from the shops when they buy their cars. What you may not know is that those policies sold by a dealer can cost hundreds of dollars more than if you could buy them online. Our team thinks you should have all the information before you buy. So we break down the numbers to find out how much you should spend on average to insure three types of cars in Singapore: Crossover SUVs and luxury cars*.

With cars like the Toyota Corolla Altis selling well, small sedans are popular and affordable in Singapore. To get an idea of ​​the average cost of car insurance, we have compiled quotes from seven major insurance companies for the Toyota Corolla Altis, Honda Civic and Mazda Mazda3. Our research found that you can generally expect to pay around S$1,900 per year in car insurance premiums for such a car in 2017. NTUC, Aviva and AXA funds tend to offer a price that the lowest for shared car vehicles. The group.

How Much Car Insurance Do You Really Need

How Much Car Insurance Do You Really Need

Crossovers are becoming more and more popular in Singapore as they offer a good combination of sportiness, safety and space, making them a different choice on Singapore’s busy streets. After collecting quotes from top insurance companies in Singapore for the Honda HR-V and Nissan Qashqai, the two most popular cars in Singapore in this category, we found that the average insurance premium of the car for a crossover SUV is about S$2,000. In a year. Overall, Aviva and FWD generally seem to offer the lowest rates for crossovers.

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Luxury brands such as Mercedes-Benz, BMW and Audi offer a wide range of performance vehicles to suit different tastes when it comes to size, performance and style, and prices vary accordingly. . For the purpose of our study, we chose to look for one of the most popular luxury cars in Singapore, the Mercedes-Benz E Class, and its closest rivals are the BMW 5 Series and the Audi A6. On average, you can expect to have car insurance in the region of S$2,500 per year on this type of luxury car. We found that AXA and DirectAsia offer the best prices for this type of car.

It’s no surprise that car insurance premiums are often related to the value of your car. However, it does not increase according to the value of your car. For example, a luxury car like Mercedes E-Class or BMW 5 series costs about 125% more than a small car like Toyota Corolla Altis. But on average the cost of luxury car insurance will be only 32% more expensive than the average cost of small car insurance. So while you may spend more than twice as much as the luxury car you want for a minivan or crossover, remember that you generally won’t have to pay twice as much for insurance as well.

Finally, you should make sure that you shop around as much as you can before deciding on a car insurance policy. With potential savings of hundreds of dollars each year, your homework is definitely worth it.

For our study, we used the profile of a 30-year-old male driver with 2 years of experience and 0% NCD. The quotes you can get from an insurance company can vary based on your age, occupation, gender, driving experience and NCD, among other factors. However, these quotes can provide you with valuable tips and information to get you started on finding the best insurance policy for you.

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We have collected quotes from AXA, NTUC Income, Aviva, DirectAsia, FWD, Etiqa and HL Assurance selected for their reputation in Singapore, as well as the ease of getting online quotes on their website. AIG, one of Singapore’s largest insurance companies, is no longer represented as it no longer offers online quote services on its website.

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How Much Car Insurance Do You Really Need

Posted by June Sham Posted by June ShamArrow Right Insurance Writer June Sham is an insurance writer for. Before joining this group, he worked for about three years as a licensed manufacturer of automobiles, real estate, umbrellas and earthquakes. June Sam

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Edited by Amelia Buckley Edited by Amelia BuckleyArrow Right Insurance Editor Amelia Buckley is an insurance editor specializing in auto, home and life insurance. He emphasizes creating content that provides compelling and compelling information to support readers in making personal insurance decisions. Amelia Buckley

Reviewed by Mark Friedlander Reviewed by Mark FriedlanderArrow, Director of Corporate Communications, Insurance Information Center Mark Friedlander is Director of Corporate Communications at III, a non-profit organization focused on providing consumers with a better understanding of insurance. Connect with Mark Friedlander on Twitter Connect with Mark Friedlander on LinkedIn Linkedin About our review board Mark Friedlander

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How Much Car Insurance Do You Really Need

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